The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1887-09-22
Dun,n WeelZIv EReZ1ew


/ NEW YORK, Sept. 16.-R. G. Dun
Co., in their weekly review of trad
say: All anticipations of money strir
gency this fall which were espresso
months ago are abundantly justified b
the pressure now felt in spite of sun
plies from abroad far beyond reason
able anticipations. Were the merchan
disc movement alone to control, golt
is coming in largely through the Oper
atoms Of syndicates in the purchase O
securities, or for other Investments o.
loans, and yet the pressure is severe
The Boston market is light, many mil
lions having been sent West for rail
road building or other operations. Phil.
adelphia is cautious, because of recent
failures, and consequences not wholly
disclosed. Cincinnati banks are forced
TO especial conservation by the Cincin-
natl, Hamilton & Dayton uncertain
ties, and the effects of the Fidelity
collapse. Chicago reports an enormous
business done by note brokers, and high
rates bid by merchants and manufac-
turerS. Stringency is reported at Nash
vile and Atlanta with active demand
at full rates at New Orleans, and the
demand in Cleveland, Omaha, Kansas
City and other Western cities is I'M
usually brisk on account of activity in
trade or in building. The treasury con-
tinueS to absorb money. 1t holds at
all points 81, 500, 900 more gold than last
Saturday, and 5000, 600 more legal
tenders, against 500, 600 less silver, but
the Treasury absorption obviously
does not account for the scarcity, in
view of the large imports of gold, and
ffln 10 ho1R 10 1,nA
the drain of money to the West and
South is universally large. The
great difficulty in making time loans
because New York banks have no
money to spare, except on call, de-
presses stock and begins to cause a
curtailment of commercial transac-
tions. A month ago it was foreseen
that real estate speculation and the at
tempt to do in one year all the build
ing needed for several years to come,
would cause some embarrassment,
which is now felt.
The weekly production of pig iron
is not smaller that year ago, as some
assert, but according to the Iron Age,
has an increase of Is per cent. Except
for few grades the tone is weaker and
heavy imports continue with much
complaint of under valuation.
Wheat has been dull and lower in
spite of the reduction of ocean rates
for grain to Liverpool. Large exports
from California in August at nominal
price above $1.OO per bushel are official
lY reported, and suggest that the effects
of the corner are yet felt at Liverpool.
Corn is a shade lower, with some
what better prospects as to yield, but
there is no longer doubt that the crop
was greatly diminished by the drOuth,
another effect of which is seen in the
heavy shipments of cattle to a de-
pressed market.
Oil doomed to 75c on reports of a
meeting of producers at PittsbuTg on
Monday, but collapsed to 62c on
Wednesday,, and recovering a little
since.
The wool market drags lifelessly.
The boot and shoe trade still i'm
proves, and dry goods are fairly sus-
tanned, but with irregularity in the de-
mand, which makes some qualities
scarce, while others move slowly.
The exports of breadstuffs, prOvis-
ions, cotton, cattle and oil in August
were S37 200, 600 in value, 6.3 per cent.
above the same month last year, but
imports at New York for August show
an increase of Is per cent. Gold comes
this way, not inpayment for goods, but
as loan.
The business failures. during the
last seven days number for the United
States 1856, Canada %, total 1SS; COM
pared with 174 last week, and 1S5 for
the corresponding week last year.